Activity

Muqassa, the Securities Clearing Center Company in Saudi Arabia, regularly issues news and announcements, primarily concerning updates to their clearing rules and procedures, margin rates, and new services.
Based on recent press releases and announcements, here are some key highlights:
* Ongoing Margin Rate and Risk Percentage Updates (May 2024): Muqassa frequently updates its margin rates and risk percentages for trading limit utilization in the cash market. Several announcements regarding these updates were made in May 2024.
* Draft Amendments to Exchange Rules and Procedures for Public Consultation (May 2024): The Saudi Exchange Company, Muqassa, and Edaa announced the publishing of draft amendments to the Exchange Rules and Procedures of the Post Trade Project (phase 2) for public consultation. This indicates ongoing efforts to enhance the market’s post-trade infrastructure.
* Clearing of Saudi Kayan Petrochemical Co. (Kayan) Single Stock Option (May 2024): Muqassa announced the clearing of the Saudi Kayan Single Stock Option, signifying the expansion of their clearing services for various financial instruments.
* Partnership with FIS to Enhance Trade Automation (February 2025 – Future-dated news found, implies a strong forward-looking plan): A significant announcement indicates Muqassa partnered with Fidelity Information Services Global (FIS) to enhance trade automation for market participants. This aims to facilitate automation, potentially launching in the second half of 2025. This partnership also involves expanding services to the over-the-counter (OTC) market, including repo transactions and future plans for OTC interest rate derivatives.
* Expansion of Acceptable Collateral (February 2025 – Future-dated news found, implies a strong forward-looking plan): Muqassa is increasing the number of government sukuk eligible as collateral for clearing members, moving beyond only cash being accepted previously. This shows a commitment to diversifying collateral options as the market matures.
* SNB Capital Becomes Muqassa Clearing Member (August 2024 – Future-dated news found, implies a strong forward-looking plan): SNB Capital became a direct clearing member of Muqassa in the derivative market, highlighting the growing participation in Muqassa’s clearing services.
You can find the most up-to-date and detailed information on their official website under the “News & Announcements” section: https://muqassa.sa/wps/portal/muqassa/rules-guidance/news-reports/news-announcements/

Video courtesy of First Bank of Nigeria

Video courtesy of First Bank of Nigeria